We are watching PRKR carefully to see how it handles the inevitable breakout above recent resistance at $2.90 area. Please note that when playing a recent disaster stock, expect volatility and fake outs.
Above is the Hourly Chart for PRKR. We like the consolidation pattern that has developed over the last couple of days and have taken a small long position. We will be watching carefully to see how it handles this key $2.90 area and if satisfied, will be adding to our position. If however, like often happens, it stalls here or pops and pulls back with very little support, we won't hesitate to get out.
The Stealthy Trader
An experienced trader with over 15+ years of markets experience utilizing proprietary filters and analysis tools to uncover low risk trading opportunities.